ARHT Media Reports 11 Percent Gains in Q2 Revenue

ARHT Media (TSXV:ART), augmented reality company announced an 11 percent year-over-year increase in revenue in its second quarter financial report. Over the quarter, AR installations took place at the Singapore Institute of Technology, the University of Hawaii and a Malaysian tech conference, among others.

As quoted in the press release:

In May 2019, the Company issued $800,000 principal amount of secured debentures of the Company. The Debentures are secured against the assets of the Company and will bear interest at the rate of 12% per annum. The Debentures will mature on the earlier of: (i) 12 months from the date of issuance; and (ii) the date upon which ARHT completes a private placement financing raising gross proceeds of no less than $2 million. The Company also issued 1,400 warrants per $1,000 principal amount of Debenture. Each warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.21 for a period of 12 months.

In April 2019, the Company opened its European flagship studio in Hammersmith, West London, with facilities to both capture and display holograms. London joins Hong Kong, Fuzhou, Los Angeles, New York and Toronto as permanent facilities to demonstrate and utilize ARHT’s technology platform.  These locations will soon be joined by Tel Aviv (as recently announced) and others expected to come on line later this year.

Click here to read the full press release.